On a conception of the filmmaker Tahar Cheriaa, the festival was created in 1966 by the Tunisian Minister of Culture to showcase films from the Maghreb, Africa, and the Middle East. In order to be eligible for competition, a film must have a director of African or Middle Eastern nationality, and have been produced at least two years before entry.

Its grand prize is the Tanit d'or, or "Golden Tanit," named for the lunar goddess of ancient Carthage; the award is in the shape of her symbol, a trapezium sumrounted by a horizontal line and a circle.